Today HSBC announced a new partnership with Pariti to launch a standalone app that has been designed to automate your savings.
Called SmartSave, it allows you to link a bank account from any bank account that you choose, and then automatically transfer money from that account to a savings or investment account based on the rules that you have set.
The app is also capable of analysing the activity on your bank account to determine when they think it is safe to save, from here you can set up daily, weekly, or monthly transfers.
If you prefer, you can use one of the smarter options, for example, you could round up a transaction from your bank account to the nearest pound and then transfer the difference into the savings or investment account that you have set up.
On top of this, if the app detects that you are saving too much and leaving your current account bare then it will let you know and it will also let you know if you could be putting more away.
HSBC has said that the SmartSave app won’t be rolling out to everyone right know, however, they will be starting a six-month, invite-only trial with 2,000 of their customers from next week.